Apple is once again a trillion-dollar company by market cap. Market cap is the total number of outstanding shares multiplied by its current stock price, which is why Apple is once again given the trillion dollar tag.
The company was able to hit the magic number thanks to a stock price of more than $221.28 during intraday trading. Based on its more than 4.5 million outstanding shares as of July 19th, that means a market cap of just a little over $1 trillion.
This, of course, isn’t the first time that Apple has found itself named as a trillion dollar company, but it’s the first time it’s managed it in a few months. Back in August 2018, its share price of $207 was enough to hit a trillion dollars. But since then, the number of shares has fallen thanks to multiple buy-back schemes and as a result, a higher share price was needed. That share price hit the required number today, and here we are.
The reason for the increased share price is the fact that Apple’s stock went up more than 3% following the announcement of new iPhones, a new Apple Watch, and a refreshed iPad during an event on September 10th. Apple is also likely to hold another event next month during which refreshed Macs and iPad Pro tablets are expected to be unveiled.
Apple joins Microsoft as the only US-based companies currently listed as having $1 trillion market cap. As MacRumors notes, Amazon has previously been able to boast the same thing while Google continues to flirt with the distinction.
You may also like to check out:
- Best iPhone 11, 11 Pro Max Case With Slim, Wallet, Ultra-Thin Design? Here Are Our Top Picks [List]
- iPhone 11 / 11 Pro Max Screen Protector With Tempered Glass: Here Are The Best Ones
- Download iOS 13 GM IPSW Links & Install On iPhone XS Max, X, XR, 8, 7, Plus, 6s, iPad, iPod [Tutorial]
- iOS 13 / 13.1 Final Version Release Date Announced By Apple
- Download iOS 13 GM IPSW Links And OTA For iPhone
- iPhone 11 Vs iPhone 11 Pro Vs 11 Pro Max Vs XR / XS / Max [Specs Comparison]
- iOS 13.1 Beta 3 Profile File Download Link Without Dev Account, Here’s How
- Download iOS 13.1 Beta 3, iPadOS 13.1 Beta 3 IPSW Links, OTA Update For iPhone, iPad
- Jailbreak iOS 13 / 13.1 Status Update [Continuously Updated With Latest Info]
- iOS 13 GM Profile File Download Link For OTA Update, Why Is it Not Available?